All Forum Posts by: Mike G.

@Dennis M. Dennis took the words right out of my mouth on this one. Much more tactful and colorful with words of yuletide cheer gIven the season we are entering into. I’ll add one more to what Dennis said , to the original poster (can’t look back I’m on mobile) check your landlord laws there in Ohio and if the cards are in your favor give them a nice early Xmas gift. Slap a nice 5 day pay or quit on their door and say merry Xmas. Tenants like that deserve nothing less.

@Nathan Gesner

my recommendation is that you make an offer contingent on the rental being empty. This enables you to get in immediately, renovate, and the find your own tenant at market rate. This puts the onus on the Seller to get the tenant out and turn the unit over to you clean and ready to go. I recommend you ask for it to be empty one week prior to closing so you can complete a final walk through a few days before closing to ensure the tenant hasn't trashed the place or stolen the fridge.

great recommendations Nathan!! kudos

@Jay Lee Typically the standard practice to avoid such issues and by the way this scenario can happen in any kind of rental situation in any asset class it is by no means limited to MHPs. Really simple Put the park in an LLC You tell the on-site manager that if and when you do personally show up dress down and show up as a maintenance guy or something or even a prospective tenant of the park, survey what you need and get he info you need and leave. MHU covers this as well in greater detail.

@Jon Dorsey Lonnie dealers. Now that’s a blast from the past. Poor old Lonnie. Obama administration and the Dodd-Frank act put an end to the Lonnie era of investing. And I say that with a heavy heart.

@Curtis Reid Have you met with your local city /county zoning and planning yet to discuss this? Have they approved a MHC in that area? Reason I ask is because there are very few if any MhPs being built since the late 1990’s.

@Ram Batchu What do you mean by trailer home? Are you using mobile and trailer as one in the same? Just making sure I’m clear on what your asking. In the states for a park purchase your going to want to conduct a Phase 1 environmental test to make sure that the land is free of any hazardous waste contamination. Also for winterization there is many steps you can do if you own the POH. If they home are TOH then that is up the tenant. I know a lot of park owners use that insulation tape that helps around AC window units and in sealing windows etc.

@Jasmine Coley Yes and yes as joe said. If it’s a different APN then it should have its own contract.

@Preston Quinn Look up the rental laws in your state. Check the county laws by visiting the county building and ask around and see. Each state and or county is different. This isn’t a one size fits all t shirt. Also another metric is supply and demand for that area. Check bestplaces.net to look at many variable metrics for your zip code.

@Chad Lunsford be advised this is a broad overview on this topic however after the Dodd-Frank and Safe Act of the early 2000's a lot of things changed. for example many states now have a Manufactured housing division that is in place to prevent the low income consumer and much of the practices of the older days are now illegal such as Lonnie Deals for example. Lots of new regulations so i would look up California mobile home division and see what hoops you have to jump thru to get in the game. I have a feeling it will be so many that it wont be worth it but thats up to you. 

@Jan Wanot thanks for the pointers ill have to take a RE listen to MHU podcasts 88,89,90.